For the first time, the Swiss Financial Market Supervisory Authority (FINMA) has issued a license for a cryptocurrency exchange, which is to act as a Directly Subordinated Financial Intermediary. The Exchange is to comply with the Swiss regulations on money laundering and customer identity. The exchange will be supervised by FINMA to ensure that all rules are followed. On 17th of October, the Payment21 exchange issued a press release describing the license as a result of approximately one year’s efforts.
https://dowbit.com/switzerland-has-issued-the-first-licence-for-a-cryptocurrency-exchange/The whole Bitcoin community is believing that Switzerland can be another big frontier for cryptocurrency. Known as the safe haven for many money people due to its strict bank secrecy law, this country is poised to play a big role in the journey of Bitcoin towards the mainstream.
And I believe that this is just the start because business demands some competitions making the field fairer and more exciting. More exchange applications can be coming to the Swiss government and in the years to come as Bitcoin is also growing the country of Switzerland can be that beckon of light for the cryptocurrency in that side of the world.
Now, am sure that the famous Mr. Jamie Dimon would not be happy about it and might be calling the authorities in Switzerland who approved of the exchange as "stupid" and fraud.